The 1040 tax form is what people use to report their annual income, to calculate their taxes, and in some cases claim deductions and credits that can be availed by the individual. Every person, whether he is employed or owning a business, must submit his tax forms or he will be reprimanded by the IRS, adding more problems in the future. Unfortunately some people have difficulties, despite the fact that are honest tax payers, due to lack of knowledge of any updates, improvements, and changes of the Tax Form 1040. It is therefore necessary to acquire a copy of the tax forms and to analyze it so that answering and submitting the forms would not be so difficult.
Here are some 1040 form help tips that may guide you and save you time in submitting your tax forms:
1. Try to calculate your annual income and see if it falls under a certain criteria. The tax form 1040 has now been separated into two kinds, the 1040-EZ and the 1040A forms, which are for certain groups of people earning a separate income range. These are rather short as compared to the form 1040 itself, so take the time to read through these forms and see if you qualify for any of them.
2. As much as possible, be up to date with the new improvements and changes of the tax form every year. You can always call the IRS for clarifications if you get confused with the requirements and procedures of form 1040.
December 17 2008 11:40 pm | 1040 form Assistance